Waterloo-based enterprise information management company OpenText Corp (TSX, Nasdaq: OTEX) has acquired Hightail Inc, a Campbell, California-based cloud service for file sharing and creative collaboration. No financial terms disclosed. OpenText said the deal reinforces its commitment to solutions that help marketers and creative professionals to share, produce and securely collaborate on digital content. Founded in 2004, Hightail raised more than US$90 million in financing from several venture capital firms, including Adams Street Partners, Emergence Capital, Sigma Partners and Western Digital Capital.
OpenText Acquires Hightail
Creative Collaboration and File Sharing Solutions to Enhance Content Services
WATERLOO, Ontario, Feb. 14, 2018 /CNW/ — OpenText™ (NASDAQ: OTEX) (TSX: OTEX), a global leader in Enterprise Information Management (EIM), announced today that it has acquired Hightail, Inc. (“Hightail”), formerly known as YouSendIt, a leading cloud service for file sharing and creative collaboration with approximately 5.5 million customers globally spanning enterprise accounts, paid subscribers, and individual consumers.
“The acquisition of Hightail underscores our commitment to delivering differentiated content solutions in the cloud that enable marketers and creative professionals to share, produce, and securely collaborate on digital content,” said Mark J. Barrenechea, OpenText Vice Chairman, CEO and CTO. “We are pleased to welcome Hightail customers and employees to OpenText today.”
Barrenechea further added, “I am excited about expanding Hightail capabilities as well as integrating Hightail into OpenText Content Suite, Documentum, Core, and Media Management, allowing our customers to seamlessly and securely collaborate with external trading partners and vendors.”
Hightail is not expected to contribute significant revenue to OpenText’s results for the fiscal third quarter ending March 31, 2018.
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on-premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
Copyright © 2018 Open Text. All rights reserved. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text or other respective owners.
Notes: (1) All dollar amounts in this press release are in US dollars unless otherwise indicated.
For further information: Greg Secord, Vice President, Investor Relations, Open Text Corporation, (415) 963-0825, email@example.com, OR Kasey Holman, Vice President, Corporate Communications, Open Text Corporation, (650) 302-4191, firstname.lastname@example.org, http://www.OpenText.com
Photo courtesy of OpenText Corp